China resumes coal import tax

Beijing: China is going to resume coal import tariffs from 15 October in a bid to save the domestic coal industry.

The Finance Ministry will impose a levy of between 3% and 6% on coal imports, something that has been suspended for the past seven years.

The real loser with this news is likely to be Australia. Indonesia, the second-biggest shipper of the fuel to China, will be exempt from the tariffs since a free trade agreement between China and the Association of Southeast Asian Nations (ASEAN) means Beijing has promised the signatory nations zero import tariffs for some resources.